ผลกระทบของผู้จัดการกองทุนที่บริหารหลายกองทุนต่อผลการดําเนินการของกองทุน

Abstract

This independent study aims to test the relationship between busy fund manager and fund performance, and the relation team manager and fund performance. This study have 212 of equity funds which are ranging from 1st January 2014 to 30th December 2019. This study is separated in to 2 parts: (1) excess return from 3-factor model and 5-factor model and (2) multiple regression analysis is used to test the relationship busy fund manager, team manager and fund performance. The result from the first part from 3 factors model and 5 factors model showed that market factor (RMRF), size factor (SMB), value factor (HML), profitability factor (RMW), and investment factor (CMA) have significantly negative relationship with equity fund's excess return. The result from regression analysis finds that both of busy fund manager and team manager have significantly negative relationship with equity fund's performance, which means the equity fund performance that managed by busy fund manager and team manager will be lower.